Predictive Refinance Scenario - MBai138 - Script & Playbook

Jumbo mortgage balance is now below new conforming loan limits. As a result, they may benefit from a refinance to a conforming loan product.

Alert Background: 

This contact meets the minimum credit criteria set by your organization.  The original loan balance was above the conforming loan limits prior to the Jan 2023 limit increases.  Conforming max loan limits have since been increased, and the loan balance is below the new conforming loan limit in the county.  Conforming loan terms and interest rates may be better than their jumbo loan terms.  It may be worth comparing their jumbo loan terms to current conforming terms and rates.  A conforming cash-out may be possible now.

Script Example:

This script is one example; feel free to make it your own and communicate the message in your own words. 

"Hi (First Name),

It's (Your Name) from (Your Company)." 

Make the Connection: At this point, you want to remind them of how you know each other.  This will change the tone of the conversation from a cold call to a warm call.  For example, if you helped them with financing to buy a home two years ago, bring that up.  If this is a contact that an agent provided to you, let the client know the connection, for example:

"We worked together a couple of years ago to purchase your home..."


"I work closely with (Agent Name)'s clients..."


"I helped you refinance your home back in 2020..."  (you get the picture, right?)

Now that the conversation has relevance, it's time to start talking about them...

"You may have seen the letter or email from me recently; my system periodically reaches out to clients that may benefit from adjusting loan terms, and your name popped up, so I thought I would give you a quick call.  Were you aware that conforming max loan limits in your county were increased after you opened your current loan?"

Let them talk, and ask follow-up questions that will get them talking about their plans, for example... 

"Have you looked into refinancing to a conforming loan?"

"Have you thought of a cash-out to access some of the down payment you put down initially?"

Give Value: Let the conversation continue from here, with you asking questions about them.  Let them tell you how you could help them.  All you are looking for in the initial call is whether they are interested in comparing their current terms to conforming terms.  The more value you can give, in the form of insight or answering questions, the more likely they will open up and have a meaningful discussion.  

Differentiate Yourself:  Tell them how unique you are compared to other lenders and why you like helping clients save long-term money.

Possible Next Steps:

The homeowner is interested in refinancing in the next 1-3 months:

  • Answer any questions they have and tell them you will put together a comparison. 
  • Send them a follow-up email so they have your contact info on hand.
  • Ask them their preferred communication channel: phone, text, or email. 
  • Keep in touch often through the process.

The homeowner isn't quite ready, but thinking about it, maybe within the next 4-8 months if rates decrease: 

  • Send them an email thanking them for the time and let them know you will check in in 30 days or if rates decrease.  This will ensure they have your contact info if they have any questions along the way. 
  • Set reminders in your CRM to follow up with an actual check-in email or call once a month or if rates decrease.  

The homeowner isn't interested at this time:

  • Ask if there is anything else you can help them with; for example, are they thinking of selling in the next year, and can you answer any questions for them? 
  • Send them an email thanking them for their time, and leave your contact info. 
  • Add them to your value-driven nurture campaigns in your CRM.